Global production of pistachios is forecast at 670,000 tons, a 20 percent increase from last year. The gain is largely caused by the world’s three largest producers – the US, Iran and Turkey – who enter their on-year of the alternate bearing crop cycle. US pistachio production forecast is nearly 10 percent higher (to 233,000 tons) due to increased bearing acreage and marginally higher yields. US exports on the other hand, are forecast to drop 10 percent to 160,000 tons. The expected drop is the result of strong competition from Iran as well as lackluster demand from the EU and China. Higher availability in the domestic US market is expected to result in increased consumption.
Iran’s forecast production increase of 30 percent (to 220,000 tons) is the result of higher yields due to on-year production as bearing acreage remains the same. In line with the US, the larger harvest is expected to result in increased domestic consumption. Iran’s exports are expected to increase by approximately 25 percent to a record 170,000 tons. Although Turkey’s production is forecast to skyrocket 70 percent to 85,000 tons, it will have limited effect on trade as almost the entire harvest is consumed domestically. Imports are forecast to increase for the second consecutive year to reach 20,000 tons.
China’s imports are forecast to remain unchanged at 80,000 tons following several years of growth. Shanghai and Beijing are key markets for U.S. pistachios, whereas other cities prefer more competitively-priced imports from Iran. EU imports are forecast nearly unchanged at 75,000 tons.
Source: USDA.